Crypto Market Highlights February 17, 2022
Cryptocurrency Investments In Latin America Is Rising, The US State Of Colorado Accepts Crypto Taxes And Many Other Crypto Market Highlights compiled in the last 24 hours.
Crypto Market News: Investment News
Blockchain/cryptocurrency venture capital (VC) in Latin America to reach $653 million in 2021, up from $68 million in 2020, in tandem with consumer interest in digital assets and decentralized finance (DeFi), says Latin America (LAVCA). Funding is focused on consumer-facing asset exchanges and retail platforms, but investors will also favor business-to-business platforms in Q1 2022, they added.
Cryptocurrency firm Fireblocks has acquired payments technology platform First Digital for $100 million. This new acquisition aims to help support and expand their payment offering by enabling payment processors and buyers to accept and make payments in digital currency, they said.
Digital asset firm Castle Island Ventures has raised $250 million — the largest ever for a four-year-old company founded by Fidelity alumni Nic Carter and Matt Walsh — to target startups looking to build currency networks, financial services and internet architectures such as Web3, Bloomberg reported. Castle Island Ventures III fund investors include incentives, wealth managers and family offices.
Decentralized order book exchange Dexalot has raised $7 million in funds led by Avalanches Blizzard Foundation (AVAX). The project aims to provide an alternative to the existing Automated Market Generator solutions.
Gaming startup Banger Games has raised EUR 10 million ($11.36 million) in a round that included a strict cap on ticket sizes to avoid dominance by big investors. This platform aims to merge the entire gaming ecosystem with Metaverse, Crypto, VR, etc. into a single experience.
Data startup Web3 Pool has raised $3.7 million in a funding round for a value of $39 million. The project is building a data marketplace and related payment tracks for new data exchange entities, called data federations, looking to capitalize on the privacy shift.
Ethereum (ETH) wallet Rainbow has announced an $18 million Series A funding led by venture capital firm Seven Seven Six. In addition, the company is launching a public beta of its Android app.
Crypto Market News: News on new products and services
The state of Colorado could start accepting cryptocurrencies for tax payments as early as this summer, Colorado Gov. Jared Polis told CNBC on Tuesday. The governor signed the state’s Digital Tokens Act and said he “expects to accept crypto this summer” for other state taxes and fees, although he noted that payments will be converted to U.S. dollars before the state receives them.
Cryptocurrency Evervault has launched a new subscription service to protect crypto wallet seed phrases called 121824 (pronounced “twelve, eighteen, twenty four”), named after the most common seed phrase length. The service is accessible through the new website 121824.com and costs $1 per wallet per month or $10 per wallet per year.
Crypto Market News: Regulatory and Crime News
A group of major crypto companies such as Anchorage, Bitgo, BlockFi, Circle, Coinbase, Gemini, Kraken, etc. have announced the launch of Global Travel Rule Solution Technology (TRUST), an award designed to meet the requirement known as the Travel Rule , while protecting the security and privacy of customers. The solution already includes well-known industry members in the United States, while global expansion is “coming soon,” they added.
US Congressman Josh Gotthiemer has released a discussion draft on the Stablecoin Innovation and Protection Act of 2022, an act focused on identifying eligible stablecoins, removing qualifying stablecoins from cryptocurrencies that are more volatile, and providing consumers and investors with adequate protections Offer. If passed, the law would help reduce the risk of instability in financial markets and protect consumers by giving the Office of the Monetary Authority (OCC) primary oversight over all types of stablecoin issuers, the senator said.
4,068 criminal whales own more than $25 billion worth of cryptocurrencies from a variety of illicit sources, reports blockchain analysis firm Chainalysis. A criminal whale is any personal wallet of crypto worth $1 or more that received more than 10% of its funds from illegal addresses — and these represent 3.7% of the total number of crypto whales. While stolen funds dominate the overall criminal balance, the dark web market is the largest source of illicit funds sent to criminal whales, followed by fraud second and the largest stolen amount third, the report said.
Crypto Market News: Stock Market News
The United States Securities and Exchange Commission (SEC) is investigating the relationship between crypto exchange Binance.US and two market makers, Sigma Chain AG and Merit Peak Ltd, The Wall Street Journal reports, citing unnamed sources. Sources say a focus for regulators is how Binance.US discloses its affiliations with trading firms to customers.
Coinbase has launched a new feature that will allow users in Mexico to withdraw any cryptocurrency they receive at more than 37,000 locations across the country. The service is free until March 31, after which customers will be charged an undisclosed nominal fee.
Major crypto exchange Coinbase has also hired Scott Bauguess, a former SEC deputy chief economist, as vice president of global regulatory policy. Bauguess vowed to work with watchdogs and create a “safe, efficient and effective regulatory mechanism for digital assets.”
Crypto Market News: News about NFTs
Payment processing company PayPal has revised the terms of its seller-focused Seller Protection Program to accommodate transactions over $10,000 in non-fungible tokens (NFTs), making them “non-protectable.” The policy comes into effect on March 21st.
Digital entertainment company Animoca Brands and chess industry service Play Magnus Group have announced a partnership to bring PMG’s Meltwater Championship Chess Championship to the Metaverse.
Crypto Market News: DeFi .News
Decentralized storage solution Filecoin (FIL) and Polygon Studios have announced a partnership during which they have developed tutorials, sponsored integrations and hackathons to help developers and non-fungible token projects (NFT) on the Polygon Network (MATIC) run the integrates with the peer-to-peer protocol network Interplanetary File System (IPFS) and Filecoin.
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